Which of the Following Would Be Used by the Auditor

question 35

Multiple Choice

Which of the following would be used by the auditor to address kiting?

• A) Cut-off bank reconciliations.
• B) Bank transfer schedules.
• C) Bank confirmations-account balances.
• D) Bank confirmations-loan guarantees.

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Definitions:

Buying Center

The group of people within an organization who are involved in a purchase decision.

Gatekeeper

An individual or entity that controls access to something, often information or resources.

Derived Demand

A demand for a commodity, service, etc., that is a consequence of the demand for something else.

Elasticity of Demand

Refers to the degree to which the quantity demanded of a good or service varies with its price.